Strong sales and profit growth for Mulberry Group plc
The British luxury fashion brand specialising in the design, manufacture and sale of leather goods and accessories, announces a strong performance.
For the six months ended 30 September 2010, total revenues increased by 38% to £44.7 million (2009: £32.3 million). Autumn/Winter 2010 orders are up 100% compared to prior year. Wholesale shipments are up 76%.
Retail sales are up 30%, with like-for-like up 29%. Profit before tax increased by 207% to £4.7 million (2009: £1.5 million).
Current trading is also good for the 10 weeks to 4th December, with retail sales up 47% and like-for-like up 47%. Spring/Summer 2011 orders are up 91% compared to prior year with four months of the selling season to go.
The Group also had new store openings in Hong Kong, Korea, Qatar and UAE.
Godfrey Davis, chairman and chief executive commented, "Mulberry has continued to increase sales and profitability during the first half of the year due to consistent demand for our products in all markets. Since September 2010, the pattern of strong demand has continued and the outlook for the second half of the year is very positive, with the full year performance likely to exceed market expectations. Despite the positive outlook we remain cautious about the global economic environment”.
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